Ib G Jun17 Accn2 Mark Scheme <PRO>

(b) Explain how the 'accruals' concept applies to the treatment of prepaid expenses.

Analyzing financial data and justifying business decisions.

The ACCN2 paper typically focuses on the preparation of financial statements and the analysis of business performance. The June 2017 exam was no exception, focusing on:

Clearly state two distinct advantages of the proposal with accounting justification. Ib G Jun17 Accn2 Mark Scheme

The marking scheme for Section A is straightforward, with 1 mark awarded for each correct answer.

Aim to recalculate each question blind, then check against the mark scheme’s step-by-step answers.

Examiners are instructed to award marks for what is present in a student's answer rather than deducting for what is missing. (b) Explain how the 'accruals' concept applies to

Partnership questions in this series focused on the preparation of Appropriation Accounts and Current Accounts. The mark scheme penalizes the omission of interest on drawings or incorrect allocations of profit shares. Clean layouts and chronological entries in current accounts are highly rewarded. 2. Income Statements and Balance Sheets

Take the mark scheme and mark each question strictly. Do not give partial credit where it is not allowed. Pay close attention to the – if a calculation is worth 4 marks, there are likely 4 distinct steps.

: Adjustments for "sale or return" goods, where revenue must be adjusted (e.g., deducting £27,000 in specific workings). The June 2017 exam was no exception, focusing

The end of each mark scheme contains notes like:

In conclusion, the IB Group 6 (Jun 17) Accounting (Accn2) mark scheme is a comprehensive document that assesses students' knowledge, application, and evaluation of accounting concepts and principles. By understanding the structure, key components, and assessment criteria of the mark scheme, students can better prepare themselves for the examination and achieve their desired grades.

The marking scheme is a detailed guide that provides information on how to assess student responses to each question in the examination paper. It outlines the criteria and standards used to evaluate student performance, including the assessment objectives, marking descriptors, and allocation of marks.